Commentary & Ideas

Retirement Scan

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Do Solo Advisors Have a Future? The industry has largely moved to a team model, but some advisors may finish out their careers as 'bachelors,' says John Taft, CEO of RBC's U.S. wealth management division.

Commentary & Ideas

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RIA Leaders: Top 20 Firms for 2015 Over the years, Financial Planning has been striving to make the annual RIA Leaders list ever more rigorous, weeding out advisory firms that take commission, have registered reps, are owned by big stakeholders. This years ranking calls out the most successful independent, fee-only players who have been able to say no to the big offers -- at least so far.

8 Ways to Get More Referrals

Each time you sit with a client for a review, you should be talking about referrals. Of course there’s a right and a wrong way to do this, and you never want to come across as needy, so don’t ask for referrals directly. Flip the conversation around by telling them you’re willing to accept their referrals. This method works because it positions you as a generous professional rather than a needy salesperson. Here’s what you might say: “As you know, I’m very selective about the clients I take on because my first priority is to my existing clients. That being said, I want you to know that we have a special program for people referred by our clients. If you know someone who could benefit from our services, we’ll provide them with a portfolio analysis – kind of like a second opinion from a doctor – at no cost. So if you know a friend, neighbor, business contact, or family member like that, please let me know, and I’ll gladly reserve time in my schedule for them.”

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